World’s richest nations agreed to renew a debt-relief initiative for poorest through at least first half of 2021

October 15, 2020 (MLN): The world’s richest nations agreed to renew a debt-relief initiative for the poorest through at least the first half of 2021, falling short of a World Bank call for a full-year extension as the coronavirus pandemic entrenches poverty.

The G-20, in a communique issued by President Saudi Arabia, said it could order another six-month extension next year. It also pledged to hold an extraordinary meeting before leaders gather in November to further discuss debt relief.

Though list of countries has not been released but analysts as countries got extension earlier by December 20202, so they are viewed that same countries to get extension till June 2021.

The G-20 countries rescheduled Pakistan debt amounting to 1.8 billion dollars.

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